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I closed on a re-fi on the mortgage company is wanting me to allow a post-closing appraiser does this

by rdyoung12290 from , California. Sep 24th 2020 Reply

Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,423 contributions

Although it does not happen often, I believe the lender is perfectly within their right to require another appraisal, especially if they have come into information that raises questions about the property or the appraisal or appraiser. Since the borrower is not allowed to select who is used in an appraisal, the lender should select an appraiser and pay for the appraisal. I don't believe you have the right to refuse. However, I do not believe that would have the ability to cancel your loan, even if the value on the new appraisal does not support the transaction. However, if they discover some form of fraud or deceit, then they could. I would ask them for a detailed explanation, in writing before scheduling the appraisal. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ 480-889-9000.

Sep 24th 2020
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,719 contributions

At closing, you usually sign paperwork saying you will sign missed paperwork, and cooperate with the lender on things like this. I have a strong idea of why they are asking, and you should just allow it. It WILL NOT effect your existing loan in anyway, shape, or form. I lend in Minnesota, Wisconsin, Iowa, North Dakota and South Dakota. I can be reached at - NMLS274132

Oct 1st 2020
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